The daily chart of EUR/JPY reveals a growing buying momentum, thanks to the RSI and the MACD strengthening.
The hourly chart shows a shift in market dynamics as indicators favor the buyers.
Key Simple Moving Averages underline EUR/JPY's superiority, hinting at the potential long-term upside.
The EUR/JPY pair stands at 164.88, showing mild gains of on Monday’s session. The pair exhibits a firm bullish momentum echoed in the strengthening of the indicators on the hourly and daily charts.
Examining the Relative Strength Index (RSI) on the daily chart, indicates a continued rise towards the upper bounds, reinforcing upward momentum. The Moving Average Convergence Divergence (MACD) supports this positive momentum through fresh green bars, indicating strong buyer dominance.
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